Commonwealth Biotechnologies says now in compliance following Nasdaq staff deficiency letter

By Elaine Rigoli

Tampa, Fla., May 18 - Commonwealth Biotechnologies, Inc. said it is now in compliance with Nasdaq rules after earlier receiving a Nasdaq deficiency letter.

The company said it received a staff deficiency letter indicating that it was not in compliance with Nasdaq's nominating committee requirements because the committee was chaired by Thomas R. Reynolds, a non-independent director.

Reynolds immediately resigned his position on the committee and was replaced as chair by Joseph Slay, an independent director.

The company said it was subsequently notified by Nasdaq that it regained compliance with the rule and that the matter is now closed.

Based in Richmond, Va., Commonwealth Biotechnologies is a solutions provider to the global biotechnology industry, academic institutions, government agencies and pharmaceutical companies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.